Energy stocks lead in subdued final trading day of August, utilities under pressure: AlphaCheck

Good morning. Stocks slipped in early trading on the final trading day of August, as investors grew more confident of a September rate hike and tensions flared between the US and Iran. The major indexes, on course for solid monthly gains, were dragged down, leaving the market in a subdued mood.

In tech stocks, the XLK index was flat as software and semiconductor firms edged higher, but not enough to offset the overall downturn. Energy stocks, however, were the standout performers, buoyed by rising oil prices due to the renewed Middle Eastern conflict. Chevron (CVX), Exxon (XOM), and other energy firms saw their shares rise.

Yet, the utilities sector (XLU) faced a different story. PG&E Corporation (PCG) stock weighed heavily on utilities stocks after new California legislation cast a shadow of uncertainty over utilities' exposure to wildfire liabilities. This sector's decline was notable among the market's moves this morning.

Other stocks that attracted attention among Yahoo Finance readers include Moderna (MRNA), PG&E Corporation, Exxon, Alibaba (BABA), Pasqal Holding (PSQL), and Edison International (EIX). For the latest stock market news and in-depth analysis, readers can click here to explore current events that move stocks.